Athens hopes IMF prepayment go-ahead aids case for lower fiscal targets

EconomyProgramme Tags: Debt, ESM, IMF, Reforms
Photo by MacroPolis
Photo by MacroPolis

The Greek government is hoping to get the all-clear from the European Stability Mechanism (ESM) on Monday to make a loan pre-payment to the International Monetary Fund, a move which Athens hopes will boost its chances of convincing its creditors to lower its fiscal targets for the coming years.

The ESM/EFSF board of governors is expected to agree to Greeceā€™s request to prepay the expensive part of the loan it has received from the IMF, which carries an interest rate of 4.9 percent. The move will save Athens 33.07 million euros in debt servicin...

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